Online video publishing provider Brightcove said in an 8K filing with the SEC that it has closed the acquisition of Zencoder, a 2-year old start-up that provides cloud-based encoding, transcoding and an HTML5 video player.
According to the filing, Brightcove paid approximately $30.0 million in cash.
As part of the deal, $4.6m of the purchase price was placed into an escrow fund to settle certain claims for indemnification for breaches or inaccuracies in Zencoder’s representations and warranties, covenants, agreements, and losses attributable to certain taxes, and payments due to Brightcove for certain adjustments to the calculation of the working capital of Zencoder as of the close of business on the day immediately prior to the closing date.
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